Change in PAN card!
The government is preparing to make the income tax system a little easier and more practical. In this context, Draft Income Tax Rules 2026 have been brought, in which many important changes related to PAN card have been proposed. These changes will directly impact your pocket, bank transactions, car purchases and property deals. The good news is that now the hassle of PAN can be reduced for small and everyday expenses.
Till now, if you deposit or withdraw more than Rs 50 thousand cash from the bank in a single day, then PAN has to be shown. But according to the new proposal the rules can now be changed. The draft rules say that it will be necessary to give PAN only if the total cash deposit or withdrawal in the entire financial year is Rs 10 lakh or more. This will provide relief to small traders, farmers and common people from giving PAN again and again.
Buying a car will now be a little easier
Till now, it was mandatory to provide PAN when buying a car, irrespective of the price. Changes have also been suggested in the draft rules. According to the new rules, PAN will have to be given on both two-wheeler and four-wheeler vehicles only if the price of the vehicle is more than Rs 5 lakh. This means that the process can be easy for those buying cheap bikes or small vehicles.
New rule on hotel, restaurant and event expenses
If you stay in a hotel, book a banquet hall for a wedding or party, then this change is useful for you. According to the proposal, now PAN will have to be given only on bills of more than Rs 1 lakh. Under current rules this limit is Rs 50 thousand. This means that there will be less need for PAN in small payments for weddings, parties and functions.
Important changes related to property deal
The rules related to PAN will also change in the purchase and sale of land, flat or house. According to the draft rules, PAN will be mandatory only for property deals with a value of more than Rs 20 lakh. At present this limit is Rs 10 lakh. This may make property transactions a little easier in small cities and towns. The clear objective of the government is to provide relief to the common people in small transactions and keep a strict eye on big transactions. If these proposals are implemented, the system can become more easy, practical and common man friendly.